SocGen's Bini Smaghi Sees Post-Brexit Bank Difficulties

The transcript discusses the challenges the UK faces in negotiating with the EU, particularly in terms of delegation of power and regulatory differences. It highlights the complexities involved in reaching agreements, especially with the UK's desire for its own rules. The discussion also touches on the impact of global changes, such as the Trump administration, on the UK's position outside the EU.

In what ways does the speaker suggest that the UK may be underestimating the challenges it faces?

What impact does the speaker believe the Trump administration has on the UK's situation outside the EU?